Abu Dhabi National Energy Company PJSC (TAQA) has sold its entire stake in TAQA Neyveli Power Company Private Limited to India’s MEIL Energy Private Limited for 9.26 billion Indian rupees (about AED 387 million), a strategic step in its shift toward cleaner, low-carbon energy assets.
TAQA Neyveli operates a 250-megawatt lignite-fired power plant in Tamil Nadu, India. The sale, which gives TAQA a full exit from the project, aligns with its strategy to cut Scope 1 and Scope 2 emissions by 25% by 2030 and focus on flexible gas-fired and renewable power generation.
“This sale represents a considered adjustment to our generation portfolio as we continue progressing towards a more sustainable energy mix,” said Farid Al Awlaqi, CEO of TAQA’s Generation business. “It aligns with our broader efforts to transition towards cleaner energy solutions, reduce long-term emissions, and respond to changing global energy dynamics.”
TAQA, one of the largest listed integrated utilities in Europe, the Middle East, and Africa, has been accelerating its low-carbon investments across key markets. The company recently announced plans to add 1GW of gas-fired capacity in the UAE and develop Masdar’s “round-the-clock” solar and battery storage project — expected to be one of the world’s largest when complete.
Internationally, the company is expanding in Morocco and Saudi Arabia with new high-efficiency gas and cogeneration projects totaling over 3.6GW. TAQA’s total gross capacity has grown from 21GW in 2020 to about 70GW as of September 2025, with a target of 150GW by 2030, two-thirds of which will come from renewables through its stake in Masdar.
The divestment of the Neyveli plant underscores TAQA’s ongoing strategy to reshape its global portfolio around efficient, lower-emission technologies that bolster energy security and support the integration of renewables.
